TSX bounces from Brexit slide, scoring largest gain in seven weeks

TORONTO (Reuters) - Canada’s main stock index scored its largest gain in seven weeks on Tuesday, paring some of the losses inflicted in the prior two sessions after Britain’s shock vote to leave the European Union as oil rallied and investors sought out bargains.

Plane maker Bombardier Inc (BBDb.TO) gained nearly 5 percent to $1.90 after Air Canada said it had finalized a deal to buy 45 of its CSeries jets with an option to purchase another 30.

Industrials rose 1.6 percent.

Shares in Canexus Corp CUS.TO were unchanged at C$1.30. The chemical company said Canada’s antitrust regulator had approved its proposed buyout by rival Superior Plus Corp (SPB.TO).

That approval came a day after U.S. antitrust regulators filed a complaint to block the deal, saying the companies were two of the three manufacturers of a chemical needed to whiten wood pulp for paper production.

Shares in Superior advanced 1 percent to $10.29.

Gold miners, which had helped limit the TSX’s overall losses with strong gains on Friday and Monday, were a drag on the market. Barrick Gold Corp (ABX.TO) fell 2.6 percent to C$26.87 and Goldcorp Inc (G.TO) slipped 0.5 percent to C$23.92.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.6 percent, while spot gold XAU= fell 1 percent.